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1099 Reporting
1099 Reporting functionality is available when the property Country Mode = US and when the GENERAL > 1099 REPORTING application parameter is set to Y.
The 1099 form is used to report to the US government income earned by travel agents as commissions, and income earned by owners of hotel condo units (when OPV_<version number> OPERA Vacation Ownership System license is active) after any deductions but before any applied fees. OPERA allows you to prepare the 1099 as formatted file for transmission to the IRS and as printed 1099 forms (1099 MISC) for presentation to income earners.
Note: When the Owners radio option is selected, only amounts represented as Owner Revenue to the recipient (travel agent or condo unit owner) during the time period covered by the report are included in OPERA's 1099 processing. For example, assume a guest stayed in an owned condo unit from 12-24-05 though 12-31-05. Even though a payment check to the owner may not be created until Jan of the following year, the Owner’s Revenue recognized in the year 2005 is the declared 1099 amount recorded.
Select Miscellaneous > 1099 Reporting to prepare the IRS Tax file containing 1099 information for export to the IRS. The IRS Tax file is used to report 1099 information related to travel agent commissions or, when OPV_<version number> OPERA Vacation Ownership System license is active, for vacation unit owner revenue.
In order for the recipient of commissions or other income to be included in this report, the profile for that individual or account must include taxpayer identification information. The Tax ID is the EIN or Social Security Number used by that company or individual to report earnings to the IRS. This information is provided in one of two places; the Tax ID field which must be screen painted on the Profile screen, and/or the Tax ID field of the Owner Contract.
Note: The tax ID MUST be in the XXX-XX-XXXX format and must contain only numbers and dashes, or an error will be logged and the report will not generate.
When you select the 1099 Reporting option, the 1099 Reporting screen appears.
Provide the following information and select the OK button.
Type. If the OPV_<version number> OPERA Vacation Ownership System license is active at your property, select the type of report you wish to prepare. Type selection is not necessary if OVOS is not licensed at the property. The commission 1099 report is assumed.
Commission. Report commissions income.
Owners. Report the owners revenue on the unit(s) after any deductions but before any applied fees.
Year. Select the year for the report.
When you select the OK button, the 1099 Reporting for-<year> screen appears.
This screen provides a list of the profiles to which commissions have been paid or owner revenue recognized during the report year.
Note: Only payees whose profile address has a country code of US or USA will be displayed. In addition, the profile must have the Include in 1099 option selected on the Profile screen More Fields tab or the Include in 1099 option checked on the Owner’s Tab of the Unit’s contract.
To locate a specific record, enter any of the following search options and select the Search button.
Name. Last name of the individual, or the name of the travel agent, which received income during the year being reported.
First Name. First name of the individual who received income during the year reported.
IATA No. If the income recipient is a travel agent, their travel agent IATA number.
The following information is shown on this screen.
Name. Name of the individual, or the name of the travel agent, who received income during the year being reported.
IATA No. If the income recipient is a travel agent, their travel agent IATA number.
Tax ID. Income recipient's taxpayer ID.
Note: If entries appear without a Tax ID, you will receive an error message when you prepare the 1099 report using the File or Test File buttons. If a record does not include a Tax ID, you may highlight the record and select the Profile button to go to the Profile screen where you may enter the individual or account's taxpayer identification in the Tax ID field. (This field must be screen painted on the Profile screen.)
Income. Amount of income paid during the report year. For Owners, the amount represents the Owner’s revenue recognized for the year representing the Unit’s Revenue minus any deductions.
Note: The GENERAL > 1099 MINIMUM AMOUNT application setting determines the minimum amount of income needed to generate a 1099 report. The default is blank (no minimum). Check the IRS regulations for the appropriate minimum.
Test File. Create a test version of the export file. You will be prompted to confirm your request. The file is named IRSTAX and is created on your OPERA application server in directory D:\micros\opera\exports.
Note: A Test File Indicator value within the Transmitter record indicates if the file is a test file.
Profile. Open the profile belonging to the highlighted individual or account.
File. Generate the 1099 file. You will be prompted to confirm your request. The file is named IRSTAX and is created on your OPERA application server in directory D:\micros\opera\exports. See Preparing IRSTAX Files, below.
Print. Print hardcopy IRS Forms 1099 for the individuals and accounts listed on the screen.
Note: In the event that the number of records validated for 1099 processing exceeds the value set by the GENERAL > 1099 FILE THRESHOLD application setting, you will not be allowed to print a 1099 report. Instead, a 1099 export file will be created. Check the IRS regulations for the appropriate threshold.
Select the Test File or File button to generate the IRSTAX file. You will be prompted to confirm your request. The file is named IRSTAX and is created on your OPERA application server in directory D:\micros\opera\exports. A message informs you that the file has been created successfully.
The File button is only available when you are preparing the 1099 for a past year. The Test File button is available for any year for which you have commission or condo unit income data.
Note: When the 1099 report file is generated using the File function, OPERA records are flagged internally so that you may not edit the commissions or the OVOS revenues covered by the report. If you are not ready to prepare the final 1099 report, use the Test File button to prepare a test version of the report.
Note: A Test File Indicator value within the Transmitter record indicates if the file is a test file.
If there are profiles with a missing or improperly formatted Tax ID number, the IRSTAX file is not created. A message will inform you and prompt whether you wish to print a 1099 Error report. The report shows:
See Also
